Paras Healthcare launches fresh IPO plan to raise ₹1,800 cr
Paras Healthcare, known for its Paras Health hospitals, is making another attempt at an IPO and wants to raise ₹1,800 crore.
The plan? ₹500 crore will come from new shares, while the rest, ₹1,300 crore, will be sold by existing promoters and investors.
Their earlier IPO try lapsed last year when SEBI's approval ran out.
Promoters and investors selling ₹1,300 cr
Promoter Dharminder Kumar Nagar is selling shares worth up to ₹300 crore. Investor Commelina is offloading ₹800 crore, and 360 ONE is adding another ₹200 crore to the sale.
There might also be a pre-IPO round for up to ₹100 crore. Of the fresh funds coming in, most (₹375 crore) will help pay down Paras's debt, which stood at about ₹854 crore this March, with the rest set aside for general business needs.
JM Financial, BofA Securities India, and Nuvama Wealth Management are handling the IPO process.